REPORTS ON OVERSEAS BASING.

SEC. 1304. REPORTS ON OVERSEAS BASING. (a) Annual Report.—The Secretary of Defense shall, not later than March 31 of each year through 1997, submit to the Committees on Armed Services of the Senate and House of Representatives, either separately or as part of another relevant report, a report that specifies— (1) the stationing and basing plan for United States military forces outside the United States; (2) the status of closures of United States military installations located outside the United States; (3) the schedule for the negotiation of such closures; (4) the potential savings to the United States resulting from such closures; (5) the potential amount of receipts from residual value negotiations; and (6) efforts and progress toward achieving host nation offsets under section 1301(e) and reduced end strength levels under section 1302. (b) Report on Budget Implications of Overseas Basing Agreements.—Whenever the Secretary of Defense enters into a basing agreement between the United States and a foreign country with respect to United States military forces outside the United States, the Secretary of Defense shall, in advance of the signing of the agreement, submit to the congressional defense committees a report on the Federal budget implications of the agreement.